Zoen_Trieste

CLN2020: Gap Retest

Long
Zoen_Trieste Updated   
NYMEX:CLN2020   Crude Oil Futures (Jul 2020)
The July delivery contract is seemingly in a decent spot for buyers. Having retested the bullish structural gap area, oil is now trading at a price where many players are waiting for it choose the direction, which will ultimately accelerate the consequent move as players book profits/losses. This can be interpreted as having greater control of risk, as a $1.5K risk is enough to "know" whether one is wrong being bullish here.
Comment:
The $1.5k risk was more than enough to now that you should get out of short risk exposure.
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